66

SAMUEL STEVENS, Jr. ESQUIRE, GOVERNOR.

Dec. Ses. 1822

and shall also be acknowledged by the president of said trustees, and
recorded according to law, and all acts or deeds of said society, so
authenticated, shall be valid and effectual in law.

Passed Jan.
16, 1823.
Incorporati-
on,

CHAPTER 106.

An act to incorporate a Company in Baltimore County, by the name of
The Baltimore Manufacturing- Company.
Section 1. Be it enacted by the General Assembly of Maryland, That
Elias Ellicott, George Ellicott, and Thomas Ellicott, and all such
other persons as shall associate with them by becoming stock-
holders, in the manner hereinafter provided, their successors and as-
signs shall be, and they arc hereby made and constituted a body po-
litic and corporate, by the name, style and title, of "The Baltimore
Manufacturing Company, " and by the same name, style and title,
shall have continual succession, and shall be capable in law, to sue
and be sued, plead and be impleaded, and to make and use a common
seal, and the same at their pleasure to alter or renew, and to pur-
chase, hold, enjoy, improve or dispose of, and convey, any lands, te-
nements, hereditaments, goods, chattels and all manner of estates,
real, personal or mixed, and generally to do and perform all such
acts, as may be necessary for carrying on the manufacturing of cot-
ton or woollen goods, or other manufactures in their discretion; Pro-
vided, That the said company shall not at any one time possess more
than five hundred acres of land, or hold or possess real and person-
al estate together above the value of one million of dollars, beyond
the amount of debts they may owe.

Capital stock

2. And be it enacted, That the capital stock of the said company,
shall not exceed the sum of one million of dollars, and shall be di-
vided into shares of one hundred dollars each, and every person who
shall become the owner of one or more shares of the said stock, by
purchase, transfer, devise, or in a course of distribution, shall there-
upon become a stockholder in the said company; and every person
who shall be divested of all his stock in the said company, by sale
and transfer or by operation of law, shall thereupon cease to be a
stockholder; and the said shares of stock as to all legal purposes shall
be deemed and considered as personal estate, and shall be assignable
in such manner and under such restrictions as the by-laws and ordi-
nances to be made by the president and directors or a majority of
them shall direct; And whereas, The said Elias Ellicott, George El-
licott and Thomas Ellicott, are the owners of sundry tracts or parts
of tracts of land in Baltimore county, on which certain mills and
other buildings are erected, and it is contemplated and intended, that
the said lands, mills, buildings and improvements shall constitute a
part of the capital stock of said company, at the estimated value of

Certain lands
&c.

one hundred and forty thousand dollars; therefore,
. 1. Be it enacted, That on the execution of a sufficient deed of con-
veyance, by the said Elias Ellicott, George Ellicott and Thomas El-
licott, agreeably to the laws of this state, conveying to the Baltimore
Manufacturing Company, the lands, mills, buildings and improve-
ments aforesaid, with the privileges, improvements and appurtenan-
ces thereunto belonging, in pursuance of this act, they shall there-
upon be entitled to, and invested with shares of stock in the said
company, to the amount of the said sum of one hundred and forty
thousand dollars in the following proportions and numbers in seve-
ralty, that is to say: the said Elias Ellicott, live hundred shares; the
said George Ellicott, five hundred shares, and the said Thomas El-